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Canaccord Genuity Thinks SNC – Lavalin’s Stock is Going to Recover


SNC – Lavalin (TSX: SNC), the Materials sector company, was revisited by a Wall Street analyst on October 10. On October 10, analyst Yuri Lynk gave a Buy rating to SNC and set a C$61 price target.

According to TipRanks.com, Lynk is a 5-star analyst with an average return of 8.4% and a 54.4% success rate. Lynk covers the Basic Materials sector, focusing on stocks such as Badger Daylighting Ltd, SNC-Lavalin Group Inc, and Stantec Inc.

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SNC – Lavalin has an analyst consensus of Strong Buy, with a price target consensus of C$67.30, a 51.6% upside from current levels. In a report issued on October 1, National Bank also maintained a Buy rating on the stock with a C$69 price target.

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Based on SNC – Lavalin’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$83.01 million. In comparison, last year the company had a net profit of C$104 million.

SNC-Lavalin Group, Inc. engages in the provision of engineering and construction services. It offers engineering, procurement, construction, project management, project financing services to industry sectors. The company operates through the following segments: Mining and Metallurgy, Oil and Gas, Power, Infrastructure, Atkins, and Capital.

The company’s shares closed on Friday at C$44.40, close to its 52-week low of C$43.82.